Horizon Receives Optimistic Report Regarding Webb County Lease Option

April 21, 2014 08:30 AM Eastern Daylight Time

HOUSTON--(BUSINESS WIRE)--Horizon Energy Corporation (OTCQB: HORI) announces the initial
geological report is positive, as it considers a recent option agreement
for a two-tract oil and gas lease totaling 1,340 acres in Webb County,
Texas. The report states there are approximately 24 million barrels of
oil remaining in the field with about 20% of it underlying the Horizon
leasehold, which equals 4.8 million barrels of oil in place. Assuming a
20% recovery of that figure, the report estimates the property can yield
1.4 million barrels, which at current prices for West Texas Intermediate
Crude oil is valued at $146 million.

The geological report for the Horizon lease further states there are
several inactive wellbores on the property that can yield instant
production while further recovery methods are investigated.

The county has received global attention for being part of the Eagle
Ford shale play and Texasdrilling.com reports there are currently 18,234
drilled wells in Webb County. Although activity in the area is focused
in the Eagle Ford play at the northwest portion of the county, that play
is nestled among various geologic layers, many of which are also
producing oil and gas and may be more or less prevalent in different
areas with depths varying across all formations. This has many oil and
gas companies returning to some of the previously drilled oil fields
that for decades have produced using traditional vertical wells, and
successfully applying horizontal drilling techniques.

“We are encouraged by this report and expect the Webb County property to
become a vital part of our portfolio,” said Robert Bludorn, Chairman and
CEO of Horizon Energy Corporation. He added, “Horizon is optimistic
about its potential relationship with the drillers in Webb County as
there are tremendous opportunities to produce oil and gas in an
environment of rising oil prices and attractive finding and development
costs.”

Major operators in Webb County include ConocoPhillips (NYSE:COP), SM
Energy (NYSE:SM) and Lewis Energy in partnership with BP (NYSE:BP).

About Horizon Energy Corporation

Horizon Energy Corporation was incorporated in the state of Wyoming in
2010. Its business model and scope of operation includes traditional and
nontraditional energy sector opportunities. It is currently in the
business of acquiring, discovering and developing oil and gas
properties. Additional information is found at www.horizonenergyusa.com.

Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
information within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, including statements that include the words
"believes," "expects," "anticipates," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the company to differ materially from
those expressed or implied by such forward looking statements. In
addition, description of anyone's past success, either financial or
strategic, is no guarantee of future success. This news release only
speaks as of the date of its distribution.